Home Capital Provides Update on Deposit Withdrawals

Home Capital announced today an update on High Interest Savings Accounts (HISA) withdrawals on Thursday, April 27.

HISA withdrawals for the day were approximately $290 million as compared to $472 million on Wednesday, April 26. The balance of HISA deposits is expected to be approximately $521 million on Friday, April 28 after settlements of Thursday’s transactions.

Total Guaranteed Investment Certificate (GIC) deposits, including Oaken and broker GICs, stood at $12.97 billion as at April 26.

Home Trust had liquid assets of approximately $750 million as at April 27, plus an additional portfolio of available for sale securities of $200 million.

Home Trust has also secured a firm commitment for a $2 billion credit line, as announced Thursday.

Caution Regarding Forward-looking StatementsThis press release contains forward-looking information within the meaning of applicable Canadian securities legislation. Please refer to the Home Capital’s 2016 Annual Report, available on Home Capital’s website at www.homecapital.com, and on the Canadian Securities Administrators’ website at www.sedar.com, for Home Capital’s Caution Regarding Forward-looking Statements.

About Home Capital Group Inc.Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of insured residential mortgage products, consumer lending and credit card services. In addition, Home Trust offers deposits via brokers and financial planners, and through its direct to consumer deposit brand, Oaken Financial. Home Trust also conducts business through its wholly owned subsidiary, Home Bank. Licensed to conduct business across Canada, Home Trust has offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.

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Source: Global News

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